April 6, 2011

Blockbuster: Done

From BGR:

Pending approval at a hearing scheduled for Thursday, Dish Network will acquire Blockbuster Inc. following an auction that took place earlier this week. The company’s winning bid was approximately $320 million but the acquisition is expected to land at about $228 million in cash

Remember when Blockbuster was a multi-billion dollar company? The company that put fear in the hearts of small video rental stores everywhere? The Walmart of video?
I remember racing over to the local Blockbuster in Nashua, NH to get a movie back before they closed at midnight. And walking from my apartment on a Saturday afternoon to find something to watch that evening. Netflix, video on demand and streaming have replaced all of that, and now the mothership itself is gone. Their dominance ended years ago. Shows how long it takes for a giant to fall all the way to the ground.

 

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